Regardless of latest issues within the downstream oil sector, the federal authorities has reassured Nigerians that there will probably be no disruption within the provide of refined petroleum merchandise throughout the nation.
The committee additionally reaffirmed that the crude oil-for-Naira initiative will proceed with out disruption and that excellent points had been being dealt with urgently and in good religion.
This assurance adopted a gathering of the Steering Committee on the Home Crude Oil and Refined Merchandise Gross sales in Native Foreign money Initiative, chaired by the Minister of Finance and Coordinating Minister of the Economic system, Wale Edun, in Abuja on Saturday.
Following the committee’s resolution, Dangote Petroleum Refinery and Petrochemicals introduced on Saturday the quick resumption of petrol (Premium Motor Spirit) gross sales in Naira, citing the intervention of the Naira for Crude Technical Committee chairman.
In a message to its prospects, the refinery mentioned that prospects can now place orders and make funds in Naira for self-collection and free petrol supply at beforehand specified places nationwide.
Recall that the refinery had suspended petrol gross sales in Naira, amid ongoing challenges associated to international trade and crude oil pricing mechanisms.
The technical committee’s intervention, shaped to facilitate the usage of the Nigerian foreign money in crude buy and downstream petroleum product transactions, has helped bridge gaps between the refinery and its prospects.
The committee reviewed developments across the reported suspension of the Naira-for-crude association by the Dangote Refinery and issues raised by the Petroleum and Pure Fuel Senior Workers Affiliation of Nigeria (PENGASSAN). It famous that the Dangote situation had already been amicably resolved.
In attendance had been the Minister of Price range and Financial Planning, Senator Abubakar Atiku Bagudu; the Chairman of the Federal Inland Income Service (FIRS), Zacch Adedeji, who additionally heads the Technical Committee; representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority; the Nigerian Nationwide Petroleum Firm (NNPC) Restricted; the Central Financial institution of Nigeria (CBN); Afreximbank; and the Dangote Refinery.
On the finish of deliberations, the committee reaffirmed that the crude oil-for-Naira initiative will proceed with out disruption and that excellent points, notably the dispute between PENGASSAN and Dangote Refinery, are being dealt with urgently and in good religion.
The federal authorities mentioned it stays firmly dedicated to safeguarding power safety, defending shoppers, and sustaining the steadiness of the home petroleum merchandise market.
